Axalta Coating Systems (NYSE:AXTA) Stock Price Target Lowered at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered Axalta’s price target from $36 to $35 while maintaining a “sector perform” rating, implying about 2% downside from the prior close. Analysts overall assign the stock a consensus “Hold” rating with a $38.45 target.
• Axalta shares rose 4.8% to $35.72 in Monday trading, within a 52-week range of $24.94 to $38.61.
• The company’s latest quarterly results fell short of expectations: EPS was $0.63 versus a $0.70 consensus estimate, while revenue reached $1.31 billion compared with expectations of $1.33 billion. Institutional investors own approximately 98.28% of the stock.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) had its price objective cut by equities research analysts at Royal Bank Of Canada from $36.00 to $35.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a "sector perform" rating on the specialty chemicals company's stock. Royal Bank Of Canada's price objective suggests a potential downside of 2.01% from the company's previous close.

Several other brokerages have also recently commented on AXTA. Robert W. Baird lifted their price objective on shares of Axalta Coating Systems from $35.00 to $37.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. UBS Group reduced their price target on shares of Axalta Coating Systems from $39.00 to $36.00 and set a "neutral" rating for the company in a research report on Monday, October 5th. The Goldman Sachs Group restated a "buy" rating and issued a $38.00 target price on shares of Axalta Coating Systems in a research report on Friday, October 9th. Barclays lowered their price objective on Axalta Coating Systems from $45.00 to $44.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Weiss Ratings upgraded Axalta Coating Systems from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, October 16th. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Axalta Coating Systems has an average rating of "Hold" and a consensus price target of $38.45.

Axalta Coating Systems Stock Up 4.8%

Shares of NYSE:AXTA traded up $1.65 during trading hours on Monday, hitting $35.72. The company's stock had a trading volume of 132,671 shares, compared to its average volume of 2,435,531. Axalta Coating Systems has a 52 week low of $24.94 and a 52 week high of $38.61. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.53 and a quick ratio of 1.11. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 2.05 and a beta of 1.26. The firm's fifty day moving average price is $34.00 and its 200 day moving average price is $32.34.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The specialty chemicals company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.07). Axalta Coating Systems had a net margin of 6.46% and a return on equity of 21.28%. The business had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.33 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The business's quarterly revenue was up 1.8% compared to the same quarter last year. As a group, research analysts expect that Axalta Coating Systems will post 2.45 EPS for the current year.

Institutional Trading of Axalta Coating Systems

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Axalta Coating Systems in the 2nd quarter worth $668,541,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Axalta Coating Systems in the 2nd quarter worth about $599,029,000. Lakewood Capital Management LP purchased a new stake in Axalta Coating Systems during the 2nd quarter valued at $117,157,000. Parsifal Capital Management LP purchased a new position in shares of Axalta Coating Systems during the second quarter valued at approximately $82,069,655. Finally, Bank of New York Mellon Corp purchased a new stake in Axalta Coating Systems during the second quarter valued at $43,205,000. Hedge funds and other institutional investors own 98.28% of the company's stock.

About Axalta Coating Systems

Axalta Coating Systems Ltd. NYSE: AXTA develops, manufactures and sells coatings and coating technologies designed to protect, enhance and improve the appearance of vehicles, equipment and industrial products. Its offerings include liquid, powder and electrocoat products, along with related color-management tools, application technologies and technical services.

The company serves several markets, including automotive original equipment manufacturers, automotive refinish businesses, commercial transportation, industrial equipment, architecture and general manufacturing.

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